Broker Check

Process Description

As defined by the Certified Financial Planner Board of Standards, Inc., a 501(c)(3) Colorado corporation, established in 1985 to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning.

There are six steps to the financial planning process:

  1. Establishing and defining the client-planner relationship
  2. Gathering client data, including goals and objectives
  3. Analyzing and evaluating the client’s current financial status
  4. Developing and presenting recommendations and/or alternatives
  5. Implementing the recommendations
  6. Monitoring the recommendations

Financial planning subject areas denote the basic subject fields covered in the financial planning process, including but not limited to the following:

  • Financial statement preparation and analysis with cash flow planning/budgeting
  • Insurance planning, risk management and asset protection
  • Employee benefits planning
  • Investment planning and portfolio design
  • Income tax planning
  • Retirement planning
  • Estate and gift planning
  • Closely held business start-up and succession planning

Have a Question?

Thank you! Oops!